Solinftec, a Brazilian digital agriculture company and an AgFunder portfolio company, announced that it plans to invest $?50.6 million to establish its US headquarters near Purdue University.
The investment in the US headquarters will create 90 jobs in 2019 and up to 334 high-wage jobs by 2022, reports Agfunder News.
Solinftec uses a suite of technologies including proprietary hardware, a telemetry communications network, and a software-as-a-service platform to help farmers monitor the status and progress of their machines in the field based on their positioning and what activity they’re undertaking.
Solinftec can also give clients a verifiable record of their harvest and traceability from the farm to the truck to the mill, without any human input.
The company is currently running on over 12 million acres and monitoring 20,000 pieces of equipment with 75,000 active daily users and 50% of the Brazilian sugarcane market.
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“Solinftec has shown a passion for discovering innovative solutions to improve agriculture operations through science, engineering and more recently AI,” said Daniel Padrão, Solinftec’s chief operating officer. “That is why we are excited about the opportunity to work with a renowned research university such as Purdue and its College of Agriculture as we continue to expand our platforms into new geographies.”
The $ 50.6 million includes investment in software and computer hardware to expand its innovations to the US and increase its tech-based offerings for US customers in the agriculture industry.